12815 123rd Street Ct E - Apartments FOR SALE


Puyallup, WA 98374- South Hill
$3,700,000 USD
425-830-2254
12815 123rd Street Ct E, Puyallup, WA for Sale
$3,700,000 USD
Apartments - FOR SALE
1/16
null | 6.12% Cap Rate

12815 123rd Street Ct E
Puyallup, WA 98374
South Hill


OVERVIEW

Expansive Floor Plans: Well-maintained community featuring seventeen spacious 720 SF one-bedroom units and one 1,000 SF two-bedroom unit, with vaulted ceilings in the top floor units and one carport per unit. Full Size Washer and Dryer: Each unit is equipped with full size washer and dryer. Well Maintained Structure and Systems: Roof replaced in 2015, cooper plumbing throughout, and a low maintenance septic system. Attractive Investment Opportunity: Offered at $206,000 per unit, $279 per square foot, and delivering a solid 6.02% cap rate. Financing Options: Close with new debt – approximately $2.59M in proceeds at 5.57% on a 7-year term – or assume existing financing - $1.63M in proceeds at 3.73% with 4-years remaining. Leasing Upside: Potential to increase current rents to market rate and capitalize on an additional 7.08% of revenue. Value-Add Potential: While the majority of units have already received light updates, there remains significant upside through completing full renovations. Convenient & Peaceful Location: Nestled in a quiet residential neighborhood, backed up to a green belt, just 2.5 miles from South Hill Mall and surrounding amenities. Stabilized Asset: 100% occupied with zero delinquency.

FOR SALE DETAILS

PRICE

$3,700,000 USD

PRICE/SF

$279 USD /SF

# OF UNITS

18

PRICE/UNIT

$205,556

CAP RATE

6.12%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sherwood Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1986

PARKING SPACES

28

LAND DETAILS

LAND ACRES

1.41 AC

LAND SF

61,420 SF

ZONING

G,Puyallup

APN/PARCEL ID

041911-8011

ASK ABOUT THIS PROPERTY

Steve FischerNorthmarqMore Info
425-830-2254

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Steve FischerNorthmarqMore Info
425-830-2254

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.